Journal of Accounting and Management Vision

Journal of Accounting and Management Vision

Investigating the Nonlinear Relationship between Ownership Focus and Financial Leverage with the Mediator of Family Control in Companies Accepted in Tehran Stock Exchange

Document Type : Original Article

Authors
majid moradi 1
farzin khoskar 2
morteza hoseini 3
1 عضو هیات علمی
2 مدرس
3 دانشجو
Abstract
Considering the fact that family firms account for a significant percentage of Tehran Stock Exchange, in this research, it has been tried to reveal the nature of these units to investors in order to enable them to decide on their investments, Make more reasonable decisionsThe purpose of this study was to investigate the nonlinear relationship between ownership concentration and financial leverage with the role of mediation of family controlling stock in companies admitted to Tehran Stock Exchange. For this purpose, 106 companies were selected through a targeted (systematic) method during the period of 2016-2010 as the sample size of the research. To estimate the regression model with panel data and to analyze multiple regressions using panel-data method, the results of this research show that there is a reverse relationship between ownership control and financial leverage and between controlling ownership concentration and The financial leverage does not exist with the role of mediator of family control, u-inverse relationship and direct relationship.
Keywords
ownership concentration
family control
financial leverage